Reports
UK HNWs Massively Under-Insured - Report
According to research by UK insurer Norwich Union, the average high net worth customer is under-insured by £85,000 ($156,000). Norwich Un...
According to research by UK insurer Norwich Union, the average high net worth customer is under-insured by £85,000 ($156,000). Norwich Union carried out a series of “wealth checks” on 100 HNW customers revealing that they were under-insured by a total of £8.5 million. A typical HNW customer would have £125,000 in home contents, £500,000 of buildings cover plus £50,000 worth of fine art and jewelry. The Norwich Union thinks this typically undervalues by almost 70 per cent. One wealth check revealed an HNW had undervalued a fine art and antiques collection by a massive £1.4 million.
